VP van Wees meets government and private sector clients in India
VP Ingrid van Wees on 16-19 July 2018 held meetings with senior officials from the Reserve Bank of India, Department of Economic Affairs, Ministry of Finance, Central Electricity Regulatory Commission, IFC, and nonsovereign clients to discuss the country’s business and regulatory environment, risk management practices, and emerging business opportunities for ADB in India. She also met with business leaders from Citibank, Ernst & Young, Housing Development Finance Corporation, and KKR. She visited a dialysis care clinic operated by DCDC Health Service Private Limited - a client of ADB's Private Sector Operations Department.
ADB attends financial close event for geothermal power project in Indonesia
The Rantau Dedap Geothermal Power Project held a financial close event on 4 July 2018 in Jakarta. ADB is providing a $175.3 million Ordinary Capital Resources (OCR) loan and a $50 million loan through the Clean Technology Fund. Cofinanciers include Japan Bank for International Cooperation, Mizuho, Mitsubishi UFJ Financial Group, Inc., and Sumitomo Mitsui Banking Corporation under a Nippon Export and Investment Insurance cover. ADB's Director of Infrastructure Finance Division 2, Jackie Surtani attended the event. The project's sponsors are Supreme Energy, Engie, Marubeni, and Tohoku Electric.
ADB-supported Myanmar natural gas project receives Deal of the Year award
The Myingyan Natural Gas Power Project, a 225 MW combined cycle gas turbine project with the first international best practice project financing in Myanmar, received the TXF Project Finance Award 2017. Michael Barrow, Director-General of ADB's Private Sector Operations Department, received the award at the TXF Global Project Finance conference on 5 June 2018 in Prague, Czech Republic.
ADB supports financial inclusion in Myanmar
Maybank and ADB signed the agreement on 30 April 2018 in Singapore to promote $20 million equivalent of new loans to micro-borrowers in Myanmar. Maybank is a new partner under ADB's Private Sector Operations Department's microfinance risk participation and guarantee program. The regional program so far has supported over $640 million of new loans to more than 3.5 million borrowers, mainly women.
ADB Wins 2018 Global Trade Review's Leaders in Trade Award
ADB, through its Trade Finance Program, won the Best Development Bank in Trade award at the 2017 GTR Charity Awards Dinner held 26 April. The awards highlight excellence in the trade, commodity, supply chain and export finance, and fintech markets. Read more.
ADB provides $10 million in trade loans to Viet Nam
Through ADB's Trade Finance Program (TFP), Orient Commercial Bank of Viet Nam received an additional $10 million to support trade. Since 2010, TFP has supported $9.1 billion in trade through over 7,000 transactions in Viet Nam, 72% of which backed small and medium-sized enterprises. TFP works with 13 commercial banks in Viet Nam.
VP Gupta discusses private sector clean energy partnerships in Iceland
VP Gupta met Icelandic business leaders and government officials on 20-22 March in Reykjavik to discuss strengthening clean energy partnerships in Asia. He gave a lecture at the UN University Geothermal Training Program on ADB's clean energy strategies, and visited geothermal sites including electric power, district heating, and geothermal-based manufacturing and aquaculture.
ADB wins Asia Pacific DFI, wind deal of the year awards
Michael Barrow, Director General of ADB's Private Sector Operations Department, and staff attended the Infrastructure Journal Asia Pacific awards ceremony on 21 March in Singapore. ADB won the Development Finance Institution (DFI) of the year award and the ADB-financed 150MW Tricon Boston Consulting Project in Pakistan won the Asia Pacific Wind deal of the year award.
ADB signs loan agreement for southern Thailand waste-to-energy project
ADB and Gulf Chana Green signed a local currency loan agreement on 16 February for THB 1,109 million to support a 25MW biomass waste-to-energy power plant in southern Thailand. ADBs assistance will help provide an environmentally sustainable solution to the abundant agricultural waste that is produced from farming and wood industries by converting biomass into a renewable source of electricity.
ADB supports Uzbekistan trade with new partner bank
ADB's Trade Finance Program (TFP) brings in Aloqabank as its sixth partner bank in Uzbekistan through a $5 million loan agreement signed on 14 February. To date, TFP has supported trade in Uzbekistan worth $1.3 billion covering various sectors.